AXSM — Valuation Models

Interactive models with editable assumptions. All calculations run client-side.

Valuation Summary

Model	Intrinsic Value	vs Price ($166.38)
DCF	$-243.72	-246.5%
Graham Number	—	—
Reverse DCF	—	—
DDM	—	—
EV/EBITDA	—	—

Values reflect default assumptions. Adjust inputs in each model below to update.

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: -$29.42M

Near-term growth (yrs 1–5)(%)Rev: 65.0% / EPS: —

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 6.35%

Computed WACC: 6.35%

Cost of equity (Re)6.51%(Rf 4.30% + β 0.40 × ERP 5.50%)

Cost of debt (Rd)0.00%(no debt / unavailable → 0%)

Tax rate (T)21.00%(US statutory fallback)

Equity weight (E/V)97.50%

Debt weight (D/V)2.50%

Results

Intrinsic Value / share$-476.53

Current Price$166.38

Upside / Downside-386.4%

Net Debt (used)-$104.82M

Sensitivity: WACC (rows) × Near-term g (cols)

WACC \ Near-term	57.0%	61.0%	65.0%	69.0%	73.0%
7.0%	$-306.72	$-347.74	$-393.03	$-442.90	$-497.70
8.0%	$-237.42	$-269.16	$-304.19	$-342.76	$-385.15
9.0%	$-190.24	$-215.66	$-243.72	$-274.61	$-308.54
10.0%	$-156.28	$-177.15	$-200.19	$-225.55	$-253.41
11.0%	$-130.82	$-148.29	$-167.57	$-188.79	$-212.10

2 — Graham Number

Assumptions

MultiplierGraham used 22.5 (15× P/E × 1.5× P/B)

EPS (trailing)($)Yahoo: $-3.68

Book Value / share($)Yahoo: $1.74

Results

Graham Number requires positive EPS and positive Book Value per share. EPS is zero or negative.

Graham Number—

Current Price$166.38

Margin of Safety—

Formula: √(22.5 × max(0,EPS) × max(0,BVPS))

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 6.35%

Terminal growth rate(%)

Computed WACC: 6.35%

Cost of equity (Re)6.51%(Rf 4.30% + β 0.40 × ERP 5.50%)

Cost of debt (Rd)0.00%(no debt / unavailable → 0%)

Tax rate (T)21.00%(US statutory fallback)

Equity weight (E/V)97.50%

Debt weight (D/V)2.50%

Results

Reverse DCF requires positive TTM free cash flow.

Current Price$166.38

Implied Near-term FCF Growth—

Historical Revenue Growth65.0%

Historical Earnings Growth—

Base FCF (TTM)-$29.42M

Implied growth is the FCF growth rate (yrs 1–5) that makes the DCF intrinsic value equal the current price. Long-term growth is set to half the implied near-term rate.

4 — Dividend Discount Model (DDM)

Assumptions

Annual dividend D0($/share)Yahoo: —

Dividend growth rate (g)(%)

Required return (r)(%)

Results

This company does not pay a dividend. DDM is not applicable — the intrinsic value shown uses D0 = $0 unless you enter a hypothetical dividend above.

DDM Intrinsic Value / share—

Current Price$166.38

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: -$160.17M

Target EV/EBITDA multipleCurrent: -52.5×

Net Debt($B)Default: -$104.82M

Results

Implied Equity Value / share$166.38

Current Price$166.38

Upside / Downside+0.0%

Implied EV$8.41B

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